UPDATE 1-CBL & Associates posts lower Q1 FFO on charge

* Q1 FFO $0.72/shr vs $0.75/shr last yr

* Q1 revenue falls 4 pct to $271.1 mln * Shares down 6 pct after the bell

April 29 (Reuters) - Real estate investment trust CBL & Associates Properties Inc (CBL.N) posted lower funds from operations (FFO) for the first quarter, hurt by a non-cash impairment charge.

CBL reported FFO attributable to shareholders of $51.1 million, or 72 cents a share, compared with $53.6 million, or 75 cents a share, a year ago.

Excluding a non-cash impairment charge, FFO was 78 cents a share, the company said.

Revenue fell 4 percent to $271.1 million.

Net income for the quarter was $14.6 million, down from $22.4 million last year.

The company said it was maintaining its 2009 FFO outlook of $2.95 to $3.09 per share, adjusted to reflect the additional stock and units issued in connection with its first-quarter dividend paid on April 15.

Shares of the company were down 6 percent at $7.30 in trading after the bell. They closed at $7.76 Wednesday on the New York Stock Exchange.

For the alerts, double click on [ID:nWNAB0500] (Reporting by Mary Meyase in Bangalore; Editing by Anne Pallivathuckal)